Please contact the company that issued it and have them explain and correct the Form
1099-C, "Cancellation of Debt". Cancelled,
forgiven, and discharged debt is considered taxable income, according to
the IRS, and they will be expecting to see it on your tax return.
If you find that the 1099-C is valid, here's how to enter it in TurboTax:
1.
Open (continue) your return.
2.
In the TurboTax program, search for 1099-C or 1099C (lower-case
works also) and then click the "Jump to" link in the search results.
3.
Select the type of cancelled debt (main home or
other) and then click Continue.
4.
Follow the onscreen instructions to enter
information from your 1099-C.
